What are the eligibility issues of the SBA 504 program?
The business, plus affiliate companies, must have a net worth of less than $8.5 million. The average net profit of the business and affiliates cannot be more than $3.0 million after taxes in the last two years. The business must create and/or retain jobs and/or meet one of the following Public Policy goals: 1) Expansion of an Export business (at least 10% of last year sales must be from export sales) 2) Expansion of a Minority owned business (at least 51%) 3) Woman Owned (at least 51%) 4) Veteran Owned (at least 51%) 5) Subject property is located in one of the following areas: a) Rural community; or b) Enterprise Zone (federal or state designated); or c) Redevelopment Area (low/moderate income area with slum and blight); or d) Hardship community due to federal budget cutbacks (i.e.
